Petagna, 19, will be loaned out this season, according to his agent, and Championship side Leeds have emerged as a possibility because of owner Massimo Cellino's links in Italy.
"Andrea will leave AC Milan on loan to gain experience," Calcionews24.com quotes Giuseppe Riso as saying. "There are a few Serie B's teams interested in him, like Crotone, Latina and Perugia while in Serie A Cesena like him.
"But it is not said that Petagna remains in Italy. I know that Cellino's Leeds like him too, we'll see what AC Milan decide to do."
Should Petagna arrive, he will be the second striker to do so on loan following yesterday's acquisition of Souleymane Doukara from Catania.
Trieste-born Petagna has made just four senior appearances for Milan and also spent a brief period on loan at Sampdoria last term.